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Brunei's economic growth forecast at 2.1 percent
(MENAFN) Brunei is expected this year to achieve a boost by 2.1 percent in its economic growth, as the regional research group ASEAN+3 Macroeconomic Research Office (AMRO) projected.
However, the research group forecasts that Brunei will suffer a decline to jump by 2.0 percent in its economic growth for 2020.
This drop is attributed to the launch of operations for Hengyi Industries Sdn Bhd's oil refinery and petrochemical plant along with tougher inflows of foreign direct investment.
The country is also likely to experience significant economic risks in the medium term as a result of local factors led by high oil and gas dependence.
However, the research group forecasts that Brunei will suffer a decline to jump by 2.0 percent in its economic growth for 2020.
This drop is attributed to the launch of operations for Hengyi Industries Sdn Bhd's oil refinery and petrochemical plant along with tougher inflows of foreign direct investment.
The country is also likely to experience significant economic risks in the medium term as a result of local factors led by high oil and gas dependence.
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